In the context of a short-term adjustment in the cryptocurrency market, Bitcoin is currently trading at approximately 125.8 million Korean won, down about 0.47% from 24 hours ago. Market participants are closely monitoring the testing phase of key support levels.
Dragonfly Capital analyst Rob Hadick stated in an interview with CNBC: "Bitcoin's return before the 2024 U.S. presidential election is approximately 26%," and explained that this is similar to the Nasdaq's 28% increase. He believes that cryptocurrencies are showing a growth trend similar to traditional financial markets. He also added: "Until 2026, the medium to long-term outlook for the cryptocurrency market is very bright."
Ethereum's current trading price is 4,230,000 KRW, down approximately 0.12% from the previous day; Ripple's trading price is 2,695 KRW, down 1% within 24 hours, showing a trend similar to Bitcoin. No particularly relevant positive news has been confirmed that day.
Solana is trading around 177,000 KRW, continuing its downward trend. However, some altcoins like MOVE, AVNT, and ZBT have risen by 33%, 20%, and 19% respectively, showing an upward momentum and forming a contrast.
Market experts interpret this decline as an adjustment phase in a long-term trend and expect that policy changes after the U.S. elections and the influx of institutional investors will have a positive impact on the market. Additionally, given Bitcoin's returns that can rival traditional financial markets, its potential for maturation as a digital asset is also mentioned.
Industry insiders believe that considering long-term favorable factors such as Bitcoin halving in the future, the current price adjustment may be seen as a potential buying opportunity.
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